GA HR250

Proposes a constitutional amendment allowing county or consolidated governments to adopt an alternative property tax assessment method where real property values are based on the most recent purchase price rather than annual appraisals

Property values would only change upon sale of the property or substantial improvements exceeding $50,000 in added value

Counties could adopt or revoke this alternative method by majority vote of the governing authority, with optional voter referendum; revocation cannot occur within 5 years of initial adoption

Stated goals include reducing taxpayer appeals, lowering administrative costs, providing earlier digest data for budgeting, and addressing gentrification that forces residents from their homes

Requires submission to Georgia voters for ratification as a constitutional amendment to Article VII, Section I, Paragraph III